No, just the $794k guaranteed.
EDIT: Actually, let me run the numbers:
If the Spurs keep Bonner, they pay $947k in salary and the same in taxes with the 1.5 multiplier ($1.421 Million) . That's $2.368 Million total.
If they release Bonner and sign Lalanne on 01/10, they pay $1.107 Million in salary (Bonner's $794k in guaranteed money and Lalanne's $313k in prorated salary) and $2.039 Million in taxes (Bonner's guarantee and Lalanne's prorated tax as he doesn't count as a rookie for tax purposes time the 1.5 multiplier). So that's a total of $3.146 Million to do the switch. We're talking about $778k more than it would be to just keep Matt around.

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